US Bank Collapse : After SVB , Signature Bank Closed Down
After Silicon valley bank, state regulators closed New York-based Signature Bank on Sunday, the third largest failure in U.S. banking history,
US officials closed down New York's Signature Bank on March 12, 2023, to stop a growing banking catastrophe.
To safeguard depositors and promote the institution to possible buyers, the FDIC moved deposits and assets of Signature Bank to Signature Bridge Bank, N.A.
The FDIC took control of Signature Bank, With $110.36 billion in assets and $88.59 billion in deposits, according to the Department of Financial Services of New York State.